Crypto Warm Up: Minor Moves Post-Halving ??, Germany's Warm Crypto Welcome, Explosive ETFs in Hong Kong ????, and Much More! ??

Another edition of Crypto Weekly Digest is here - have you missed us?

As always, we bring a detailed report on the hottest partnerships that meld traditional finance with blockchain technology, updates, cyberattacks, and policy shifts every crypto enthusiast should hear about.

But that's not all - read thoroughly, and you will find opportunities to claim historical prizes! ??

Whether you're a seasoned trader, a crypto newbie, or somewhere in between, this is a great warm up before another busy week fully sets in. ??

Check the most impactful stories from the last few days! ??

Bitcoin Halving Update: Miners Feel the Heat, But BTC Barely Budges! ????

The fourth Bitcoin halving event, a phenomenon eagerly watched by the crypto community, fell short of the mark! It has concluded with surprisingly little impact on Bitcoin's price, which hovered around $64,000 on April 19th. The event historically triggered a significant price surge within six months, but this time, the anticipation was high, and many, including analysts from big financial institutions like 摩根大通 and 德意志银行 , argue that the effects were already priced in. Despite the reduced reward—from 900 to 450 bitcoins per day for miners—experts from 彭博资讯 suggest that the dilution effect of halving on new bitcoin supply is decreasing with each event. Now, with the mining reward halved, the next major question is: how will miners adapt to this reduced income, and what will be the long-term impact on the market dynamics of Bitcoin? ????

Hong Kong Hops on the Bitcoin Bandwagon! ??????

In a move sparking smiles and speculation alike, Hong Kong has officially given the thumbs up to its very first spot Bitcoin ETFs, with similar nods to Ethereum ETFs potentially on the horizon. Harvest Global Investments, LLC , China Asset Management, and a joint venture between HashKey Group and Bosera Asset Management Co. are the lucky pioneers. Announced just two weeks before these ETFs hit the Hong Kong Stock Exchange, this move could fuel a global Bitcoin rally post-halving, as major Chinese banks may now start stacking up BTC.?

Meanwhile, across the pond, the U.S. remains hesitant, with investment bigwig VanEck predicting a thumbs down for their Ether ETF proposal this May. Hong Kong’s green light could just be the spark needed to fire up crypto’s next big surge! ????

Andreessen Horowitz Goes Big on Gaming and AI, But Holds Off on Crypto! ????

Andreessen Horowitz (a16z), a major venture capital player, is diving deep into the tech pool with a massive $7.2 billion fundraise, targeting several promising sectors but notably stepping back from crypto. A cool $600 million of this hefty sum is earmarked for a new fund dedicated to gaming innovations, encompassing Web3, GameFi, and AI-driven gaming projects. Aiming to tap into the $300B+ gaming industry, this initiative fuels the next generation of interactive entertainment, with a particular emphasis on games that integrate generative AI. While crypto isn't getting more love this time, a16z is all-in on gaming and AI, betting big that these domains will power through as the next tech frontiers! ????

Crypto Custody on the Horizon: Germany's Largest Federal Bank Teams Up with Bitpanda ????

Landesbank Baden-Württemberg, Germany's largest federal bank, is setting the stage to offer cryptocurrency custody services starting in the second half of 2024. In partnership with the Austrian-based Bitpanda exchange, they're gearing up to meet the growing demand from institutional clients for secure digital asset solutions. These efforts make a part of a broader trend among German banks, such as 德意志银行 and DZ BANK AG , ramping up their crypto services in anticipation of the EU's MiCA regulations taking full effect in December 2024. As crypto becomes a regulated industry across Europe, Landesbank Baden-Württemberg is positioning itself as a secure and innovative leader in the space, ready to handle Bitcoin, Ethereum, and more! ????

???? Tether Meets Telegram: TON and USDT Seal the Deal for Crypto Convenience!

Messaging and cryptocurrency are merging in an explosive collab! Telegram Messenger 's TON has officially teamed up with Tether.io (USDT), a move announced at TOKEN2049 that's set to supercharge the way billions use digital money! Spearheaded by Telegram's CEO Pavel Durov and Tether's Paolo Ardoino, this integration brings USDT, one of the world's leading stablecoins, directly into Telegram's massive user base.

So, prepare your digital wallets because now sending money is as easy as sending a chat. ??

Think less hassle and more hustle in managing finances across borders with the tap of a thumb.

To sweeten the deal and boost adoption, TON is dishing out 11 million Toncoins as an incentive, and major exchanges like OKX and KuCoin Exchange are waiving withdrawal fees to TON until mid-2024. Your next money transfer might be a message away! ??

Win a Cybertruck in the World's First Tokenized Tesla Contest!???

Tesla Cybertruck is now a Non-Fungible Token (NFT) on Ethereum's Base Layer 2 blockchain as a result of MetaWin's move in partnership with law firm BCLP - and you could win the digital keys! ??

Participants in this groundbreaking competition can compete for the futuristic vehicle using a free, transparent, on-chain process, accessing reduced crypto transaction fees. You can now use their Web3 wallets to enter this groundbreaking competition, where every entry and transaction detail is crystal clear and immediately verifiable.

Want a bigger shot at winning? Purchase MetaWin NFTs for additional entries and a chance to drive away in style, or opt for a cool $125,000 in USDC/T if you can't take delivery. The entries end on June 1, 2024, so put your foot down and give yourself a chance to claim a piece of automotive and tech history! ????

Game On, Samsung! ???? Wilder World Brings Web3 Gaming to Your Living Room!

Wilder World is cranking up the excitement in the gaming universe by partnering with 三星电子 to beam its Web3 metaverse right into your smart TV! Imagine racing through a virtual world from the comfort of your couch, where you truly own every twist, turn, and trophy thanks to the decentralized power of blockchain technology. ?????

Starting later this year, after a successful alpha test in December 2023, you'll be able to explore, compete, and create directly on your Samsung Smart TV. Watch Wilder World pioneering a new frontier where your in-game assets, like cars and gear, are valuable NFTs you can trade and sell. ?????

It's time for the gaming experience to get not just bigger, but wilder! With the integration of 英伟达 ’s cloud gaming and the innovative Meowchain for low-cost transactions, Wilder World is all set to drive Web3 gaming right into the mainstream living room. ?????

Anime Unleashed in the NFT World! ????? Dentsu and Azuki Debut 'Enter The Garden' Series

Anime and NFTs are always a perfect blend, and Dentsu Inc. knows that! Having formed a creative duo with Chiru Labs , the brains behind the Azuki NFT collection, they are launching an anime trilogy called "Enter The Garden." Directed by anime heavyweight Goro Taniguchi, famed for "One Piece Film Red" and "Code Geass," this series blends traditional anime with the cutting-edge world of NFTs. ??

The first episode, "The Waiting Man," is set to dazzle fans on Azuki.com and Azuki ’s YouTube channel this April 30, 2024, marking a significant moment for global anime enthusiasts and NFT collectors alike. Viewers can expect a rich narrative featuring cameos from Azuki NFT characters owned by the community, integrating into the storyline and showcasing community-driven businesses and ventures. ????? Get ready for a visual feast where your favorite digital collectibles come to life! ????

PayPal Pulls Plug on NFT Protection! ???? What This Means for You?

In a significant policy shift, PayPal has announced it will no longer offer protection for Non-Fungible Token (NFT) transactions starting May 20, 2024. If you're buying or selling NFTs, wave goodbye to filing claims for mismatched or fraudulent transactions through PayPal's Purchase Protection Program. This update also strips away Seller Protection for sales exceeding $10,000. ?????

Why the change? NFTs, unlike physical goods, can't be inspected physically before purchase, amplifying risks like fraud and counterfeiting. With these complexities, PayPal is stepping back, pushing buyers and sellers towards alternative, possibly more secure, payment methods like cryptocurrencies or direct bank transfers.

For the NFT community, this means navigating a new landscape of financial risks and opportunities. Ready or not, the digital collectibles market is evolving, and participants will have to adapt to these new transaction norms. Be alert, NFT enthusiasts! ????

Step Up Your Game with STEPN x Adidas! ??♂??? Sneak Into the NFT World!

Get ready to lace up for an exciting partnership as STEPN, the app that rewards your every move, teams up with Adidas for a unique blend of fitness and digital fashion. They've just dropped the STEPN GO x 阿迪达斯 Genesis Sneakers NFT collection, featuring 1,000 uniquely designed tokens inspired by Adidas's iconic running shoes that encourage you to step into a true? 'phygital' lifestyle? ????

Priced at 10,000 GMT each, these limited-edition NFTs are up for grabs through a special raffle on STEPN's NFT platform, MOOAR, ensuring fair play for all enthusiasts. ?????

Whether you're a fitness buff or a collector, the STEPN x Adidas venture offers an exciting new way to merge movement with the metaverse. Ready, set, go—this is just the beginning of what promises to be a thrilling sprint into the future of FitTech! ????

Lights, Camera, Blockchain! ???? Former Disney Boss Unveils Web3 Gaming Empire with 'PlanetQuest'

Gaming innovation goes to Hollywood? Yes, you heard it right! Former Disney powerhouse and a crew of elite talents from Marvel and Star Wars have launched Galactic Entertainment Publishing in the UAE, sparking a revolution in AAA Web3 gaming. Their first big bang? 'PlanetQuest'—a game that's not just a game but a burgeoning sci-fi universe. ???

Even before its official release, 'PlanetQuest' has galvanized over 200,000 NFT enthusiasts, who've claimed their digital stake in this expansive, Star Wars-like world. Think of owning everything from starships to planets, all tradable as NFTs! And this universe will keep expanding: novels, comics, and more games are on the horizon as part of this intergalactic saga. ?????

Ready to journey into a future where your gaming achievements can literally become universal assets? 'PlanetQuest' awaits its explorers!

EY Leverages Ethereum's ZK-Proofs for Smarter Contracts ????

Ernst & Young (EY), one of the Big Four accounting giants, has rolled out a new Ethereum-based tool called 安永 OpsChain Contract Manager (OCM). It utilizes cutting-edge zero-knowledge proofs to streamline complex contract management for private businesses. ????

By opting for Ethereum’s public blockchain over a private network, EY ensures enhanced confidentiality and fairness, preventing any party from exploiting a strategic upper hand. Aside from boosting security, this move also significantly reduces the risk of leaking sensitive business details. ????

With OCM, EY aims to revolutionize how purchase agreements, rate cards, and other contract types are executed—slashing administration costs and cycle times by up to 40% and 90%, respectively. After last year's Wirecard scandal, this could be a good opportunity for EY to strengthen its image as a company committed to improving accuracy and transparency.

Sweden Cracks Down on Crypto: $90M Tax Bill for Miners! ????

Sweden is sharpening its pencils and tightening its purse strings, demanding a hefty $90 million in back taxes from local crypto miners. The Swedish Tax Agency has concluded a meticulous investigation into 21 crypto-mining firms, unearthing that a majority of them submitted "misleading or incomplete" information to snake their way out of paying full taxes between 2020 and 2023. ??????

The investigation highlighted that several firms dodged value-added tax (VAT) and import taxes on mining equipment, having also skirted income tax on their mining proceeds. With the verdict now in, most of these companies are facing a serious financial reckoning, though a couple managed to win their appeals. ????

This stern move reflects Sweden's tightening grip on the crypto industry, emphasizing transparency and fairness in taxation, especially as the country homes major players like Hive Digital Technologies, which champions eco-friendly mining. The crackdown might be a clear sign to other miners to play by the rules in the land of the Northern Lights! ????♂?

Banking on the Future: Global Shifts Toward Digital Currency ????

German Precision Meets MIT Innovation for CBDC Security

The Deutsche Bundesbank has joined forces with MIT's Digital Currency Initiative to pave the way for a secure digital euro, setting a high bar for privacy in the world of digital payments. Unlike private payment solutions where third-party services might access user data, the proposed digital euro aims to keep user information under wraps, preventing any entity from peeking into personal transactions. ???♂????

The initiative could be viewed as a response to the inefficiencies of current payment systems, where, for example, German bank cards sometimes falter across borders within the euro area. As global banking faces criticisms from privacy concerns to potential disruptions in traditional banking, the German central bank is also exploring protective measures like transaction limits to stabilize the system during economic stress.

New Zealand Dips Its Toes in Digital Currency Waters

Across the globe, New Zealand is testing the digital currency waters with its own CBDC initiative, aiming to launch a digital dollar by 2023. The Reserve Bank of New Zealand (RBNZ) is currently amid a 101-day public consultation to gather opinions on the design and benefits of its proposed digital cash. ???????

Being a part of a broader four-stage approach that includes extensive public engagement and strategic planning, this step aims to ensure the CBDC aligns with international standards and local needs. As cash usage gradually declines, New Zealand's efforts signal a cautious but proactive approach to revitalizing the local payments landscape, urging policymakers to embrace innovation to stay competitive.

Crypto Calamity: Hedgey Finance Falls Victim to $44 Million Hack! ????

In a dramatic turn of events, Hedgey Finance, a notable player in the DeFi space, was hit hard with a double-whammy exploit. Aftermath? A whopping $44.7 million in losses. This grim episode unfolded on both the Ethereum and Arbitrum networks, with a staggering $42.8 million in ARB tokens spirited away on Arbitrum alone. ??

As soon as the breach was detected, Hedgey took to X to alert its users and commenced an in-depth investigation with auditors to pinpoint the breach. They've urged users with active token claims to halt transactions immediately. Meanwhile, opportunistic scam accounts began to circulate, potentially adding insult to injury by trying to lure victims to malicious sites. ???♂???

This hack is part of a larger, troubling trend in the crypto world—over $500 million was stolen in Q1 2024 alone. As the industry reels from these attacks, the race is on to fortify defenses and restore trust among users. ?????

Ransomware Rampage: Akira Drains $42M in Global Cyber Shakedown! ????

The wave of cyberattacks is intensifying, with Akira being the main villain. The ransomware group has been wreaking havoc across continents, siphoning off a cool $42 million from over 250 companies since March 2023. The FBI, along with global cybersecurity teams, has pinpointed Akira's targets in North America, Europe, and Australia, exploiting vulnerable systems, from Microsoft Windows to Linux . ??

Akira's modus operandi involves sneaking in through inadequately secured virtual private networks (VPNs) that lack multifactor authentication. Once in, they pilfer credentials and lock down systems, holding them ransom until hefty Bitcoin payments are made. ???♂?

The severity of these breaches has prompted a joint cybersecurity advisory, urging organizations to beef up security and stay vigilant against such sophisticated threats. As Akira continues to evade initial detection by stifling security measures, the call to continually test and update security protocols has never been more critical. ????

As we close this edition of our newsletter, we hope you feel more informed and warmed up for another intense week!?

Even though the crypto world continues to evolve at a breakneck pace, we are always here to extract and list crucial updates for you.

Stay crypto-curious and blockchain-bright - until next time! ????